Business Opportunity Registration Form - Texas Secretary Of State
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13Form 2701—General Information
(Business Opportunity Registration)
The attached form is designed to meet minimal statutory filing requirements pursuant to the relevant
code provisions. This form and the information provided are not substitutes for the advice and services of an
attorney.
Commentary
The offering or sale of business opportunities in Texas is governed by the Business Opportunity Act,
chapter 51, Texas Business & Commerce Code, and the secretary of state’s administrative rules, title 1,
chapter 97 of the Texas Administrative Code. Before an offering or sale of a business opportunity in
Texas, the principal seller must register the business opportunity with the secretary of state. Tex. Bus.
& Comm. Code § 51.051. A registration is effective the date the completed registration and filing fee
are received by the secretary of state.
The information provided in the registration must be updated periodically with the secretary of state.
The list of individual sellers must be updated every six months and the disclosure statement must be
updated annually and whenever there is a material change. The filing fee for any update is $25.
Definition. Section 51.003 of the Business Opportunity Act defines “business opportunity” as follows:
(a) In this chapter, "business opportunity" means a sale or lease for an initial consideration of more than $500 of
products, equipment, supplies, or services that will be used by or for the purchaser to begin a business in which
the seller represents that:
(1) the purchaser will earn or is likely to earn a profit in excess of the amount of the initial consideration
the purchaser paid; and
(2) the seller will:
(A) provide a location or assist the purchaser in finding a location for the use or operation of the
products, equipment, supplies, or services on premises that are not owned or leased by the purchaser or seller;
(B) provide a sales, production, or marketing program; or
(C) buy back or is likely to buy back products, equipment, or supplies purchased or products
made, produced, grown, or bred by the purchaser using wholly or partly the products, equipment,
supplies, or services that the seller initially sold or leased or offered for sale or lease to the purchaser.
(b) In this chapter, "business opportunity" does not include:
(1) the sale or lease of an established and ongoing business or enterprise that has actively conducted
business before the sale or lease, whether composed of one or more than one component business or enterprise, if
the sale or lease represents an isolated transaction or series of transactions involving a bona fide change of
ownership or control of the business or enterprise or liquidation of the business or enterprise;
(2) a sale by a retailer of goods or services under a contract or other agreement to sell the inventory of
one or more ongoing leased departments to a purchaser who is granted the right to sell the goods or services
within or adjoining a retail business establishment as a department or division of the retail business establishment;
(3) a transaction that is:
(A) regulated by the Texas Department of Licensing and Regulation, the Texas Department of
Insurance, the Texas Real Estate Commission, or the director of the Motor Vehicle Division of the Texas
Department of Transportation; and
(B) engaged in by a person licensed by one of those agencies;
(4) a real estate syndication;
(5) a sale or lease to a business enterprise that also sells or leases products, equipment, or supplies or
performs services:
(A) that are not supplied by the seller; and
(B) that the purchaser does not use with the seller's products, equipment, supplies, or services;
(6) the offer or sale of a franchise as described by the Petroleum Marketing Practices Act (15 U.S.C.
Section 2801 et seq.) and its subsequent amendments;
(7) the offer or sale of a business opportunity if the seller:
Form 2701
Instruction Page 1 – Do not submit with filing.
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